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Market Reports

Morning Gold & Silver Market Report – 3/29/2012


Gold and Silver are enjoying slight gains this morning after choppy overnight trading. U.S. stock futures are down, due in part to a disappointing jobless claims report. After seasonal adjustments, last week’s jobless claims were revised upward by 4.6 percent, slightly mitigating this week’s drop of 5,000. A positive move for the dollar seems to be limiting Gold’s upward movement for the moment. A final reading in the gross domestic product report showed that the U.S. economy expanded at a 3 percent rate, slower than expected.

The first budget from Spain’s new government is due today, and the focus is mainly on austerity for the struggling country. Strategists at RBS wrote, “While the government is trying to contain debt, unemployment is rising, workers are increasingly leaving the country, and consumers are struggling.”

Leaders from the top emerging economies in the world (Brazil, Russia, India, China and South Africa, or BRICS) scolded Western economies regarding loose monetary policies that are hampering the global economic recovery. Such policy “brings enormous trade advantages to developed countries, and results in unfair obstacles for other countries,” the leaders said.

At 8 a.m. (CDT), the APMEX precious metals spot prices were:

  • Gold - $1,663.30 – Up $3.90.
  • Silver - $32.09 – Up $0.21.
  • Platinum - $1,641.80 – Up $5.60.
  • Palladium - $655.00 – Up $6.60.

APMEX’s Account Managers now have extended hours and are here to serve you until 7 p.m. (CDT) Mondays through Thursdays! If you have any questions about investing in precious metals or would simply prefer to place your order by telephone, we are here to help.

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Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.


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